My uncle from abroad (not UK resident) would like to send a £10,000 gift to me. Will I have to pay tax on it?
| Related: | Personal Finance•Tax•Income Tax |
I moved to London with my family a year ago, my husband and children are UK nationals, I am not. I would be considered a resident & ordinarily resident for tax purposes. I am a stay-at-home mom & my husband is working.
Answers (2)
Ring up the Inland Revenue and ask them. Then you wont have any problems later will you ?
A gift of 10k or more is automatically declared to the Inland Revenue in order to flag up any money laundering issues so definitely contact them (tax is paid by you not your Uncle so just cos they know automatically doesnt mean they will contact you or bill you, its all down to you).
As not working, and I assume not claiming a benefit in your name (ie claiming unemployment benefit or another benefit) you should be able to use your personal tax allowance, which is over 5k, to offset any tax bill.
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